I have worked at Manchester based chartered accountants Lloyd Piggott as a partner for over 20 years now, and here, in this article, I am going to dispel five common queries surrounding the complex subject of VAT and explain some of the complicated jargon that can often leave us confused.
Posted on 11th August 2014 .
Complex tax laws seem counter-productive in encouraging SMEs to step up and take a leading role in the UK economy. Here, we are going to take a look at the problems and possible solutions.
Posted on 11th August 2014 .
Every business, irrespective of size, has employee expenses to deal with. While a small company might just have a fraction of the employees of a huge corporation, it is easy to lose track of outgoings if expenses are not properly managed. Whether these costs account for tea bags or expensive IT software, failure to effectively track expenses can lead to profit dents – especially for small firms with narrow margins.
Posted on 11th August 2014 .
Reporting in Real Time (RTI) has been in effect for the majority of UK business owners for well over a year now. While the system has worked well for most of these businesses, there also has been a fair share of criticism.
Posted on 7th August 2014 .
Many business people and entrepreneurs are so focused on growing their business that the last thing they have considered is life beyond work. Not many business owners have worked out their exit strategy options and how they will ensure an income stream in years to come.
Posted on 5th August 2014 .
When you work from home and you run your business through a limited company the good news is that you’re allowed to claim some of the home expenses you accumulate.
Posted on 1st August 2014 .
For small businesses, everyday costs are critical. Whether considering the price of stationary or coffee, expenses must be kept to a minimum to ensure company accounts stay in the black. Some things will always be too important to cut out completely, but there are ways to help day-to-day activities remain cost effective.
Posted on 1st August 2014 .
All over the world, governments are taking steps to drive economic growth by helping make more credit available to small and medium-size businesses. The Bank of England has shifted the focus of its Funding for Lending Scheme (FLS) from the mortgage market to SME lending, while the Chinese government has issued a mandate for banks to increase SME lending while ensuring that they remain Basel compliant.
Posted on 29th July 2014 .
Expense management is often seen as a dull yet necessary task, but did you know that badly managed expenses processing is actually costing employees and businesses money?
Posted on 29th July 2014 .
Largely because of its strong technology base and reliable legal infrastructure, the UK is the world leader in patented technologies, a position that the government is keen to reinforce with the introduction of a new 10% corporation tax rate on profits derived from patents and certain other intellectual property.
Posted on 23rd July 2014 .
I’ve always found the fun side of setting up and running your own business is identifying something people want and then persuading them that your solution is the best one for them. But every business has another side to it, which is equally important in deciding how profitable your enterprise will be – costs. Even if you’re selling the right stuff and selling lots of it, if your business costs are too high then you’re not going to make money. So I reckon that paying close attention to your business costs is as critical to your success as the fun bit.
Posted on 9th July 2014 .
Jen Sena, Customer Service Director at business energy supplier Opus Energy, shares advice on switching energy suppliers and managing energy for busy business owners.
Posted on 8th July 2014 .
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